Nuveen Insured New York Dividend Advantage Municipal Fund

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM N-Q


QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number         811-09473         

        Nuveen Insured New York Dividend Advantage Municipal Fund         
(Exact name of registrant as specified in charter)


        333 West Wacker Drive, Chicago, Illinois 60606         

(Address of principal executive offices) (Zip code)


Jessica R. Droeger—Vice President and Secretary
        333 West Wacker Drive, Chicago, Illinois 60606         

(Name and address of agent for service)

Registrant's telephone number, including area code:         312-917-7700        

Date of fiscal year end:            09/30          

Date of reporting period:          12/31/04         

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

Item 1. Schedule of Investments

Portfolio of Investments (Unaudited)
Nuveen Insured New York Dividend Advantage Municipal Fund (NKO)
December 31, 2004


Principal

Optional Call

Market

Amount (000)

Description(1)

Provisions*

Ratings**

Value


Consumer Staples - 5.1% (3.5% of Total Investments)

 

$

905

Puerto Rico, The Children's Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds, Series

5/12 at 100.00

BBB

$    864,420

   2002, 5.375%, 5/15/33

 

3,145

New York Counties Tobacco Trust II, Tobacco Settlement Pass-Through Bonds, Series 2001, 5.250%,

6/11 at 101.00

BBB

3,070,212

   6/01/25

 

1,000

New York Counties Tobacco Trust III, Tobacco Settlement Pass-Through Bonds, Series 2003, 5.750%,

6/13 at 100.00

BBB

967,360

   6/01/33

 

1,530

TSASC Inc., New York, Tobacco Asset-Backed Bonds, Series 2002-1, 5.500%, 7/15/24

7/12 at 100.00

BBB

1,506,928


Education and Civic Organizations - 13.8% (9.4% of Total Investments)

 

25

New York City Trust for Cultural Resources, New York, Revenue Bonds, American Museum of Natural

4/07 at 101.00

AAA

26,766

   History, Series 1997A, 5.650%, 4/01/22 - MBIA Insured

 

4,000

New York City Trust for Cultural Resources, New York, Revenue Bonds, Museum of Modern Art, Series

7/12 at 100.00

AAA

4,148,640

   2001D, 5.125%, 7/01/31 - AMBAC Insured

 

1,000

Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory

No Opt. Call

AAA

1,107,170

   Facilities, Series 2003B, 5.250%, 7/01/32 (Mandatory put 7/01/13) - XLCA Insured

 

4,000

Dormitory Authority of the State of New York, Insured Revenue Bonds, Mount Sinai School of

No Opt. Call

AAA

4,392,800

   Medicine, Series 1994A, 5.150%, 7/01/24 - MBIA Insured

 

3,250

Dormitory Authority of the State of New York, Revenue Bonds, New York University, Series 1998A,

No Opt. Call

AAA

3,951,512

   6.000%, 7/01/18 - MBIA Insured

 

1,280

Dormitory Authority of the State of New York, Insured Revenue Bonds, New York Medical College,

7/08 at 101.00

AAA

1,366,950

   Series 1998, 5.000%, 7/01/21 - MBIA Insured

 

2,000

Dormitory Authority of the State of New York, Second General Resolution Consolidated Revenue

7/10 at 101.00

AAA

2,310,780

   Refunding Bonds, City University System, Series 2000A, 6.125%, 7/01/13 - AMBAC Insured


Healthcare - 23.1% (15.8% of Total Investments)

 

690

New York City Health and Hospitals Corporation, New York, Health System Revenue Bonds, Series

2/12 at 100.00

AAA

767,929

   2002A, 5.500%, 2/15/17 - FSA Insured

 

New York City Health and Hospitals Corporation, New York, Health System Revenue Bonds, Series

2003A:

1,500

   5.250%, 2/15/21 - AMBAC Insured

2/13 at 100.00

AAA

1,618,620

1,000

   5.250%, 2/15/22 - AMBAC Insured

2/13 at 100.00

AAA

1,075,500

 

2,000

Dormitory Authority of the State of New York, FHA-Insured Mortgage Hospital Revenue Bonds, New York

2/08 at 101.00

AAA

2,011,140

   and Presbyterian Hospital, Series 1998, 4.750%, 8/01/27 - AMBAC Insured

 

1,640

Dormitory Authority of the State of New York, Revenue Bonds, New York and Presbyterian Hospital,

8/14 at 100.00

AAA

1,830,502

   Series 2004A, 5.250%, 8/15/15 - FSA Insured

 

1,725

Dormitory Authority of the State of New York, Revenue Bonds, Memorial Sloan-Kettering Cancer

7/13 at 100.00

AAA

1,831,036

   Center, Series 2003-1, 5.000%, 7/01/21 - MBIA Insured

 

600

Dormitory Authority of the State of New York, Revenue Bonds, South Nassau Communities Hospital,

7/13 at 100.00

Baa1

633,750

   Series 2003B, 5.500%, 7/01/23

 

9,800

Dormitory Authority of the State of New York, FHA-Insured Mortgage Revenue Bonds, New York Hospital

8/09 at 101.00

AAA

10,770,200

   Medical Center of Queens, Series 1999, 5.600%, 2/15/39 - AMBAC Insured

 

90

Dormitory Authority of the State of New York, Revenue Bonds, Catholic Health Services of Long

7/09 at 101.00

AAA

98,954

   Island Obligated Group - St. Charles Hospital and Rehabilitation Center, Series 1999A, 5.500%,

   7/01/22 - MBIA Insured

 

2,050

Dormitory Authority of the State of New York, Hospital Revenue Bonds, Catholic Health Services of

7/09 at 101.00

AAA

2,255,759

   Long Island Obligated Group - St. Francis Hospital, Series 1999A, 5.500%, 7/01/22 - MBIA Insured

 

2,500

Dormitory Authority of the State of New York, Secured Hospital Revenue Bonds, Bronx Lebanon

2/08 at 101.50

AAA

2,704,250

   Hospital, Series 1998E, 5.200%, 2/15/15 - MBIA Insured

 

1,400

Dormitory Authority of the State of New York, FHA-Insured Mortgage Hospital Revenue Bonds, St.

8/12 at 100.00

AAA

1,479,114

   Barnabas Hospital, Series 2002A, 5.125%, 2/01/22 - AMBAC Insured

 

Suffolk County Industrial Development Agency, New York, Revenue Bonds, Huntington Hospital, Series

2002C:

725

   6.000%, 11/01/22

11/12 at 100.00

Baa1

776,062

1,045

   5.875%, 11/01/32

11/12 at 100.00

Baa1

1,090,301


Housing/Multifamily - 5.5% (3.8% of Total Investments)

 

New York City Housing Development Corporation, New York, Multifamily Housing Revenue Bonds, Series

2002A:

2,725

   5.375%, 11/01/23 (Alternative Minimum Tax)

5/12 at 100.00

AA

2,839,505

1,375

   5.500%, 11/01/34 (Alternative Minimum Tax)

5/12 at 100.00

AA

1,414,545

 

Dormitory Authority of the State of New York, GNMA Collateralized Revenue Bonds, Willow Towers

Inc., Series 2002:

1,000

   5.250%, 2/01/22

8/12 at 101.00

AAA

1,078,570

1,500

   5.400%, 2/01/34

8/12 at 101.00

AAA

1,595,280


Housing/Single Family - 0.8% (0.5% of Total Investments)

 

835

New York State Mortgage Agency, Mortgage Revenue Bonds, Twenty-Fourth Series 2000, 5.875%,

7/10 at 100.00

AAA

892,281

   10/01/15 (Alternative Minimum Tax) - MBIA Insured


Tax Obligation/General - 10.5% (7.2% of Total Investments)

 

Buffalo, New York, General Obligation Bonds, Series 2002B:

1,490

   5.375%, 11/15/18 - MBIA Insured

11/12 at 100.00

AAA

1,645,645

2,375

   5.375%, 11/15/20 - MBIA Insured

11/12 at 100.00

AAA

2,609,531

 

1,240

Canandaigua City School District, Ontario County, New York, General Obligation Refunding Bonds,

4/12 at 101.00

Aaa

1,372,531

   Series 2002A, 5.375%, 4/01/17 - FSA Insured

 

200

Nassau County, New York, General Obligation Improvement Bonds, Series 1997X, 5.100%, 11/01/16 -

11/07 at 102.00

AAA

217,242

   AMBAC Insured

 

3,000

New York City, New York, General Obligation Bonds, Fiscal Series 2001H, 5.250%, 3/15/16 - FGIC

3/11 at 101.00

AAA

3,298,710

   Insured

 

3,250

New York City, New York, General Obligation Bonds, Fiscal Series 2002C, 5.125%, 3/15/25 - FSA

3/12 at 100.00

AAA

3,411,330

   Insured

 

525

New York City, New York, General Obligation Bonds, Fiscal Series 2004B, 5.250%, 8/01/15

8/14 at 100.00

A

576,051


Tax Obligation/Limited - 35.1% (24.0% of Total Investments)

 

400

Erie County Industrial Development Authority, New York, School Facility Revenue Bonds, Buffalo City

5/12 at 100.00

AAA

456,912

   School District, Series 2003, 5.750%, 5/01/20 - FSA Insured

 

4,000

Metropolitan Transportation Authority, New York, State Service Contract Refunding Bonds, Series

7/12 at 100.00

AAA

4,168,760

   2002A, 5.000%, 7/01/25 - FGIC Insured

 

2,290

Metropolitan Transportation Authority, New York, Dedicated Tax Fund Bonds, Series 2002A, 5.250%,

11/12 at 100.00

AAA

2,475,307

   11/15/25 - FSA Insured

 

1,000

Nassau County Interim Finance Authority, New York, Sales Tax Secured Revenue Bonds, Series 2003A,

No Opt. Call

AAA

1,082,180

   5.000%, 11/15/18 - AMBAC Insured

 

5,000

New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal Series

11/11 at 101.00

AAA

5,532,850

   2002B, 5.250%, 5/01/16 - MBIA Insured

 

1,000

New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal Series

8/12 at 100.00

AAA

1,090,800

   2003C, 5.250%, 8/01/21 - AMBAC Insured

 

500

New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal Series

2/14 at 100.00

AAA

537,555

   2004C, 5.000%, 2/01/19 - XLCA Insured

 

250

Dormitory Authority of the State of New York, 853 Schools Program Insured Revenue Bonds,

7/08 at 101.00

AAA

272,685

   Vanderheyden Hall Inc., Issue 2, Series 1998F, 5.250%, 7/01/18 - AMBAC Insured

 

220

Dormitory Authority of the State of New York, Improvement Revenue Bonds, Mental Health Services

8/09 at 101.00

AAA

231,645

   Facilities, Series 1999D, 5.250%, 2/15/29 - FSA Insured

 

1,000

New York State Local Government Assistance Corporation, Revenue Bonds, Series 1998A, 5.000%,

10/08 at 101.00

AAA

1,079,890

   4/01/15

 

3,000

Dormitory Authority of the State of New York, Revenue Bonds, School Districts Financing Program,

10/12 at 100.00

AAA

3,270,960

   Series 2002D, 5.250%, 10/01/23 - MBIA Insured

 

5,000

New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Series 2002A, 5.000%,

4/12 at 100.00

AAA

5,265,050

   4/01/22 - FSA Insured

 

1,000

New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Second General, Series

4/13 at 100.00

AAA

1,081,560

   2003A, 5.250%, 4/01/23 - MBIA Insured

 

640

New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Series 2004B, 5.250%,

No Opt. Call

AAA

720,512

   4/01/12 - AMBAC Insured

 

8,600

New York State Urban Development Corporation, Revenue Refunding Bonds, State Facilities, Series

No Opt. Call

AAA

10,175,090

   1995, 5.700%, 4/01/20 - FSA Insured

 

New York City Sales Tax Asset Receivable Corporation, New York, Dedicated Revenue Bonds, Local

Government Assistance Corporation, Series 2004A:

1,400

   5.000%, 10/15/25 - MBIA Insured

10/14 at 100.00

AAA

1,476,972

1,040

   5.000%, 10/15/26 - MBIA Insured

10/14 at 100.00

AAA

1,091,241

 

New York State Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed and State

Contingency Contract-Backed Bonds, Series 2003A-1:

1,900

   5.250%, 6/01/20 - AMBAC Insured

6/13 at 100.00

AAA

2,064,711

1,000

   5.250%, 6/01/22 - AMBAC Insured

6/13 at 100.00

AAA

1,076,700

 

750

New York State Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed and State

6/13 at 100.00

AA-

822,120

   Contingency Contract-Backed Bonds, Series 2003B-1C, 5.500%, 6/01/21


Transportation - 9.2% (6.3% of Total Investments)

 

Metropolitan Transportation Authority, New York, Transportation Revenue Refunding Bonds, Series

2002A:

2,000

   5.125%, 11/15/22 - FGIC Insured

11/12 at 100.00

AAA

2,137,340

4,000

   5.000%, 11/15/25 - FGIC Insured

11/12 at 100.00

AAA

4,175,600

 

85

Niagara Frontier Airport Authority, New York, Airport Revenue Bonds, Buffalo Niagara International

4/09 at 101.00

AAA

90,022

   Airport, Series 1999A, 5.625%, 4/01/29 (Alternative Minimum Tax) - MBIA Insured

 

4,000

Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Twenty-Fourth

8/08 at 101.00

AAA

4,240,920

   Series 2001, 5.000%, 8/01/11 (Alternative Minimum Tax) - FGIC Insured

 

780

Triborough Bridge and Tunnel Authority, New York, Subordinate Lien General Purpose Revenue

No Opt. Call

AAA

912,943

   Refunding Bonds, Series 2002E, 5.500%, 11/15/20 - MBIA Insured


U.S. Guaranteed *** - 21.5% (14.7% of Total Investments)

 

1,000

Nassau County Interim Finance Authority, New York, Sales Tax Secured Revenue Bonds, Series 2000A,

11/10 at 100.00

AAA

1,134,740

   5.375%, 11/15/17 (Pre-refunded to 11/15/10) - MBIA Insured

 

4,245

New York City Transit Authority, New York, Metropolitan Transportation Authority, Triborough Bridge

1/10 at 101.00

AAA

4,790,567

   and Tunnel Authority, Certificates of Participation, Series 1999A, 5.250%, 1/01/29 (Pre-refunded

   to 1/01/10) - AMBAC Insured

 

120

Dormitory Authority of the State of New York, Judicial Facilities Lease Revenue Bonds, Suffolk

No Opt. Call

AAA

148,292

   County Issue, Series 1986, 7.375%, 7/01/16

 

2,000

Dormitory Authority of the State of New York, Third General Resolution Consolidated Revenue Bonds,

1/08 at 102.00

AAA

2,201,760

   City University System, Series 1997-1, 5.125%, 7/01/27 (Pre-refunded to 1/01/08) - MBIA Insured

 

2,780

Dormitory Authority of the State of New York, Improvement Revenue Bonds, Mental Health Services

8/09 at 101.00

AAA

3,115,101

   Facilities, Series 1999D, 5.250%, 2/15/29 (Pre-refunded to 8/15/09) - FSA Insured

 

935

New York State Housing Finance Agency, Construction Fund Bonds, State University, Series 1986A,

No Opt. Call

AAA

1,139,419

   8.000%, 5/01/11

 

4,750

Dormitory Authority of the State of New York, Revenue Bonds, State University Educational

5/12 at 101.00

AAA

5,349,973

   Facilities, Series 2002A, 5.000%, 5/15/27 (Pre-refunded to 5/15/12) - FGIC Insured

 

3,000

New York State Urban Development Corporation, State Personal Income Tax Revenue Bonds, State

3/12 at 100.00

AA***

3,375,030

   Facilities and Equipment, Series 2002A, 5.125%, 3/15/27 (Pre-refunded to 3/15/12)

 

New York State Urban Development Corporation, State Personal Income Tax Revenue Bonds, State

Facilities and Equipment, Series 2002C-1:

1,000

   5.500%, 3/15/20 (Pre-refunded to 3/15/13) - FGIC Insured

3/13 at 100.00

AAA

1,155,490

1,500

   5.500%, 3/15/21 (Pre-refunded to 3/15/13) - FGIC Insured

3/13 at 100.00

AAA

1,733,235

 

2,575

Puerto Rico Infrastructure Financing Authority, Special Obligation Bonds, Series 2000A, 5.500%,

10/10 at 101.00

AAA

2,805,154

   10/01/40


Utilities - 16.7% (11.4% of Total Investments)

 

1,000

Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 1998A,

6/08 at 101.00

AAA

1,073,810

   5.125%, 12/01/22 - FSA Insured

 

Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2001A:

5,000

   5.000%, 9/01/27 - FSA Insured

9/11 at 100.00

AAA

5,149,550

2,715

   5.250%, 9/01/28 - FSA Insured

9/11 at 100.00

AAA

2,889,819

 

5,000

New York State Energy Research and Development Authority, Pollution Control Revenue Refunding

11/08 at 102.00

AAA

5,326,650

   Bonds, Niagara Mohawk Power Corporation, Series 1998A, 5.150%, 11/01/25 - AMBAC Insured

 

5,000

Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2000HH, 5.250%, 7/01/29 - FSA

7/10 at 101.00

AAA

5,319,800

   Insured

 

1,090

Westchester County Industrial Development Agency, Westchester County, New York, Resource Recovery

7/07 at 101.00

BBB

1,146,658

   Revenue Bonds, RESCO Company, Series 1996, 5.500%, 7/01/09 (Alternative Minimum Tax)


Water and Sewer - 5.1% (3.4% of Total Investments)

 

2,665

Albany Municipal Water Finance Authority, New York, Second Resolution Revenue Bonds, Series 2003A,

6/08 at 100.00

AAA

2,877,614

   5.250%, 12/01/18 - AMBAC Insured

 

2,170

New York City Municipal Water Finance Authority, New York, Water and Sewerage System Revenue Bonds,

6/10 at 101.00

AA+

2,346,334

   Fiscal Series 2001A, 5.500%, 6/15/33

 

1,000

Niagara Falls Public Water Authority, New York, Water and Sewerage Revenue Bonds, Series 2003A,

7/06 at 100.00

AAA

1,040,780

   5.500%, 7/15/24 - MBIA Insured

 

35

Western Nassau County Water Authority, New York, System Revenue Bonds, Series 1995, 5.650%,

5/06 at 102.00

AAA

37,004

   5/01/26 - AMBAC Insured


$

168,850

Total Long-Term Investments (cost $171,785,747) - 146.4%

183,294,981



Other Assets Less Liabilities - 2.3%

2,900,774


Preferred Shares, at Liquidation Value - (48.7)%

(61,000,000)


Net Assets Applicable to Common Shares - 100%

$125,195,755


  

At least 80% of the Fund's net assets are invested in municipal securities that are either covered by Original

Issue Insurance, Secondary Market Insurance or Portfolio Insurance which ensures the timely payment of

principal and interest. Up to 20% of the Fund's net assets may be invested in municipal securities that are

(i) either backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency

securities (also ensuring the timely payment of principal and interest), or (ii) municipal bonds that are rated,

at the time of investment, within the four highest grades (Baa or BBB or better by Moody's, S&P or Fitch) or

unrated but judged to be of comparable quality by the Adviser.

(1)  

All percentages shown in the Portfolio of Investments are based on net assets applicable to Common shares

unless otherwise noted.

*  

Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There

may be other call provisions at varying prices at later dates.

**  

Ratings: Using the higher of Standard & Poor's or Moody's rating.

***  

Securities are backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency

securities which ensures the timely payment of principal and interest. Such securities are normally considered

to be equivalent to AAA rated securities.

Income Tax Information

The following information is presented on an income tax basis. Differences between amounts for financial

statement and federal income tax purposes are primarily due to timing differences in recognizing income

on taxable market discount securities and timing differences in recognizing certain gains and losses on

security transactions.

At December 31, 2004, the cost of investments was $171,750,750.

Gross unrealized appreciation and gross unrealized depreciation of investments at December 31, 2004, were as

follows:


Gross unrealized:

   Appreciation

$11,610,197

   Depreciation

(65,966)


Net unrealized appreciation of investments

$11,544,231


Item 2. Controls and Procedures.

  1. The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)).
  2. There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.

Item 3. Exhibits.

File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth below: EX-99 CERT Attached hereto.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant)         Nuveen Insured New York Dividend Advantage Municipal Fund        

By (Signature and Title)*          /s/ Jessica R. Droeger--Vice President and Secretary        

Date         02/28/05        

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By (Signature and Title)*         /s/ Gifford R. Zimmerman--Chief Administrative Officer (principal executive officer)        

Date         02/28/05        

By (Signature and Title)*         /s/ Stephen D. Foy--Vice President and Controller (principal financial officer)        

Date         02/28/05        

* Print the name and title of each signing officer under his or her signature.